3932 Federal Register / Vol. 63, No. 17 /Tuesday, January 27, 1998 / Notices

and 10 CFR Part 20. The changes in core

flux profile would result in increased

consequences of a fuel defect for a

bundle in a non-leak location; however,

this continues to be bounded by the

consequences for the peak bundle and

those limits are not changed.

Power uprate does not introduce any

new or different radiological release

pathways and does not increase the

probability of an operator error or

equipment malfunction that would

result in a radiological release.

Tables S–3 and S–4 of 10 CFR 51.51

and 10 CFR 51.52, respectively, outline

the environmental effects of uranium

fuel cycle activities and fuel and

radioactive waste transportation. The

environmental evaluation supporting

Table S–3 assumed a reference reactor

with a specific capacity factor that

results in an adjusted daily electricity

production during a reference year. An

average burnup and enrichment are also

assumed. MNGP will not exceed the

assumption of the reference reactor year,

but will exceed the average burnup and

fuel enrichment criteria as a result of

power uprate. The environmental

impacts of the higher burnup and

enrichment values were documented in

NUREG/CR–5009, ‘‘Assessment of the

Use of Extended Burnup Fuels in Light

Water Power Reactors,’’ and discussed

in the Environmental Assessment and

Finding of No Significant Impact, which

was published in the Federal Register

on February 29, 1988 (53 FR 6040). The

staff concluded that no significant

adverse effects will be generated by

increasing the burnup levels as long as

the maximum rod average burnup level

of any fuel rod is no greater than 60

Gwd/MtU [gigawatt-days per metric ton

of uranium]. The staff also stated that

the environmental impacts summarized

in Tables S–3 and S–4 for a burnup

level of 33 Gwd/MtU are conservative

and bound the corresponding impacts

for burnup levels up to 60 Gwd/MtU

and uranium-235 enrichments up to 5

weight percent. Based on the above,

there are no adverse radiological or nonradiological impacts associated with the

use of extended fuel burnup and/or

increased enrichment and, therefore,

power uprate will not significantly

affect the quality of the human

environment.

3.0 Alternatives

As an alternative to the proposed

action, the staff considered denial of the

proposed action. Denial of the proposed

action would result in no change in

current environmental impacts of plant

operation but would restrict operation

to the currently licensed power level.

The environmental impact of the

proposed action and the alternative

action are similar.

4.0 Alternative Use of Resources

This action does not involve the use

of any resources not previously

considered in the Final Environmental

Statement for the MNGP.

5.0 Basis and Conclusions for Not

Preparing an Environmental Impact

Statement

The staff has reviewed the proposed

power uprate for the MNGP relative to

the requirements set forth in 10 CFR

Part 51. Based upon the environmental

assessment, the staff has concluded that

there are no significant radiological or

nonradiological impacts associated with

the proposed action and that the

proposed license amendment will not

have a significant effect on the quality

of the human environment. Therefore,

the Commission has determined

pursuant to 10 CFR 51.31 not to prepare

an environmental impact statement for

the proposed amendment but to prepare

this draft finding of no significant

impact.

For further details with respect to the

proposed action, see the licensee’s letter

dated July 26, 1996, as revised by letter

dated December 4, 1997, which are

available for public inspection at the

Commission’s Public Document Room,

The Gelman Building, 2120 L Street,

NW., Washington, DC, and at the local

public document room located at the

Minneapolis Public Library, Technology

and Science Department, 300 Nicollet

Mall, Minneapolis, Minnesota 55401.

Dated at Rockville, Maryland, this 21st day

of January 1998.

Cynthia A. Carpenter,

Acting Director, Project Directorate III–1,

Division of Reactor Projects—III/IV, Office of

Nuclear Reactor Regulation.

[FR Doc. 98–1903 Filed 1–26–98; 8:45 am]

BILLING CODE 7590–01–P

NUCLEAR REGULATORY

COMMISSION

Sunshine Act Meeting

AGENCY: Nuclear Regulatory

Commission.

DATE: Weeks of January 26, February 2,

9, and 16, 1998.

PLACE: Commissioners’ Conference

Room, 11555 Rockville Pike, Rockville,

Maryland.

STATUS: Public and Closed.

MATTERS TO BE CONSIDERED:

Week of January 26

Wednesday, January 28

11:30 a.m.—Affirmation Session (Public

Meeting) (if needed).

Week of February 2—Tentative

Wednesday, February 4

11:30 a.m.—Affirmation Session (Public

Meeting) (if needed).

Week of February 9—Tentative

There are no meetings the week of

February 9.

Week of February 16—Tentative

Thursday, February 19

9:30 a.m.—Meeting with Northeast

Nuclear on Millstone (Public

Meeting) (Contact: Bill Travers,

301–415–1200).

12:00 m.—Affirmation Session (Public

Meeting) (if needed).

*The schedule for Commission

meetings is subject to change on short

notice. To verify the status of meetings

call (recording)—(301) 415–1292.

Contact person for more information:

Bill Hill (301) 415–1661.

The NRC Commission Meeting

Schedule can be found on the Internet

at:

http://www.nrc.gov/SECY/smj/

schedule.htm

This notice is distributed by mail to

several hundred subscribers; if you no

longer wish to receive it, or would like

to be added to it, please contact the

Office of the Secretary, Attn: Operations

Branch, Washington, D.C. 20555 (301–

415–1661).

In addition, distribution of this

meeting notice over the Internet system

is available. If you are interested in

receiving this Commission meeting

schedule electronically, please send an

electronic message to wmh@nrc.gov or

dkw@nrc.gov.

Dated: January 23, 1998.

William M. Hill, Jr.,

Secy, Tracking Officer, Office of the Secretary.

[FR Doc. 98–2090 Filed 1–23–98; 2:25 pm]

BILLING CODE 7590–01–M

OFFICE OF MANAGEMENT AND

BUDGET

Discount Rates for Cost-Effectiveness

Analysis of Federal Programs

AGENCY: Office of Management and

Budget.

ACTION: Revisions to Appendix C of

OMB Circular A–94.

SUMMARY: The Office of Management

and Budget revised Circular A–94 in
Federal Register / Vol. 63, No. 17 /Tuesday, January 27, 1998 / Notices 3933

1992. The revised Circular specified

certain discount rates to be updated

annually when the interest rate and

inflation assumptions used to prepare

the budget of the United States

Government were changed. These

discount rates are found in Appendix C

of the revised Circular. The updated

discount rates are shown below. The

discount rates in Appendix C are to be

used for cost-effectiveness analysis,

including lease-purchase analysis, as

specified in the revised Circular. They

do not apply to regulatory analysis.

DATES: The revised discount rates are

effective immediately and will be in

effect through January 1999.

FOR FURTHER INFORMATION CONTACT:

Robert B. Anderson, Office of Economic

Policy, Office of Management and

Budget, (202) 395–3381.

Joseph J. Minarik,

Associate Director for Economic Policy, Office

of Management and Budget.

[OMB Circular No. A–94, Revised, October

29, 1992]

Appendix C

(Revised January 1998)

Discount Rates for Cost-Effectiveness, Lease

Purchase, and Related Analyses

Effective Dates. This appendix is updated

annually around the time of the President’s

budget submission to Congress. This version

of the appendix is valid through the end of

January, 1999. Copies of the updated

appendix and the Circular can be obtained

from the OMB Publications Office (202–395–

7332) or in an electronic form through the

OMB home page on the world-wide WEB,

http://www.whitehouse.gov/WH/EOP/omb.

Updates of this appendix are also available

upon request from OMB’s Office of Economic

Policy (202–395–3381), as is a table of past

years’ rates.

Nominal Discount Rates. Nominal interest

rates based on the economic assumptions

from the budget are presented below. These

nominal rates are to be used for discounting

nominal flows, which are often encountered

in lease-purchase analysis.

Nominal Interest Rates on Treasury Notes

and Bonds of Specified Maturities (in

Percent)

3-Year ..................................................... 5.6

5-Year ..................................................... 5.7

7-Year ..................................................... 5.8

10-Year ................................................... 5.9

30-Year ................................................... 6.1

Real Discount Rates. Real interest rates

based on the economic assumptions from the

budget are presented below. These real rates

are to be used for discounting real (constantdollar) flows, as is often required in costeffectiveness analysis.

Real Interest Rates on Treasury Notes and

Bonds of Specified Maturities (in Percent)

3-year ...................................................... 3.4

5-year ...................................................... 3.5

7-year ...................................................... 3.5

10-year .................................................... 3.6

30-year .................................................... 3.8

Analyses of programs with terms

different from those presented above

may use a linear interpolation. For

example, a four-year project can be

evaluated with a rate equal to the

average of the three-year and five-year

rates. Programs with durations longer

than 30 years may use the 30-year

interest rate.

[FR Doc. 98–1826 Filed 1–26–98; 8:45 am]

BILLING CODE 3110–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Investment Company Act Release No.

23004; 812–10134]

Daily Money Fund, et al.; Notice of

Application

January 20, 1998.

AGENCY: Securities and Exchange

Commission (‘‘SEC’’).

ACTION: Notice of application for an

order under the Investment Company

Act of 1940 (the ‘‘Act’’) granting an

exemption under section 6(c) of the Act

from sections 13(a), 18(f), and 21(b) of

the Act, under sections 6(c) and 17(b) of

the Act from sections 17(a)(1) and (3) of

the Act, and under rule 17d–1 under the

Act to permit certain transactions in

accordance with section 17(d) of the Act

and rule 17d–1.

SUMMARY OF APPLICATION: The requested

order would permit certain registered

open-end funds and unregistered funds

to enter into insurance agreements with

an affiliated mutual insurance company

(the ‘‘Mutual Company’’). The Mutual

Company would provide limited

insurance coverage for certain money

market assets held by the funds.

APPLICANTS: Daily Money Fund, Fidelity

Aberdeen Street Trust, Fidelity Advisor

Series I, Fidelity Advisor Series II,

Fidelity Advisor Series III, Fidelity

Advisor Series IV, Fidelity Advisor

Series V, Fidelity Advisor Series VI,

Fidelity Advisor Series VII, Fidelity

Advisor Series VIII, Fidelity Beacon

Street Trust, Fidelity Boston Street

Trust, Fidelity California Municipal

Trust, Fidelity California Municipal

Trust II, Fidelity Capital Trust, Fidelity

Charles Street Trust, Fidelity

Commonwealth Trust, Fidelity Concord

Street Trust, Fidelity Congress Street

Fund, Fidelity Contrafund, Fidelity

Court Street Trust, Fidelity Court Street

Trust II, Fidelity Destiny Portfolios,

Fidelity Devonshire Trust, Fidelity

Exchange Fund, Fidelity Financial

Trust, Fidelity Fixed-Income Trust,

Fidelity Government Securities Fund,

Fidelity Hastings Street Trust, Fidelity

Hereford Street Trust, Fidelity Income

Fund, Fidelity Institutional Cash

Portfolios, Fidelity Institutional TaxExempt Cash Portfolios, Fidelity

Investment Trust, Fidelity Magellan

Fund, Fidelity Massachusetts Municipal

Trust, Fidelity Money Market Trust,

Fidelity Mt. Vernon Street Trust,

Fidelity Municipal Trust, Fidelity

Municipal Trust II, Fidelity Newbury

Street Trust, Fidelity New York

Municipal Trust, Fidelity New York

Municipal Trust II, North Carolina

Capital Management Trust, Fidelity

Phillips Street Trust, Fidelity Puritan

Trust, Fidelity Revere Street Trust,

Fidelity School Street Trust, Fidelity

Securities Fund, Fidelity Select

Portfolios, Fidelity Summer Street

Trust, Fidelity Trend Fund, Fidelity

Union Street Trust, Fidelity Union

Street Trust II, Fidelity U.S.

Investments-Bond Fund, L.P., Fidelity

U.S. Investments-Government Securities

Fund, L.P., Variable Insurance Products

Fund, Variable Insurance Products Fund

II, Variable Insurance Products Fund III

(collectively, the ‘‘Trusts’’); Fidelity

Canadian Asset Allocation Fund,

Fidelity U.S. Money Market Fund,

Fidelity Asset Manager Fund, Fidelity

Canadian Bond Fund, Fidelity Canadian

Growth Company Fund, Fidelity

Canadian Income Fund, Fidelity

Canadian Short Term Asset Fund,

Fidelity Capital Builder Fund, Fidelity

Emerging Markets Bond Fund, Fidelity

Emerging Markets Portfolio Fund,

Fidelity European Growth Fund,

Fidelity Far East Fund, Fidelity Growth

America Fund, Fidelity International

Portfolio Fund, Fidelity Japanese

Growth Fund, Fidelity Latin America

Growth Fund, Fidelity North American

Income Fund, Fidelity RSP Global Bond

Fund, Fidelity Small Cap America

Fund, Fidelity True North Fund,

Fidelity Managed Income Fund, Fidelity

Focus Consumer Industries Fund,

Fidelity Focus Financial Services Fund,

Fidelity Focus Health Care Fund,

Fidelity Focus Natural Resources Fund,

Fidelity Focus Technology Fund

(collectively, the ‘‘Canadian Funds’’);

Fidelity Advisor U.S. Large-Cap Stock

Fund (Bermuda) Ltd., Fidelity Advisor

World Europe Fund (Bermuda) Ltd.,

Fidelity Advisor World Southeast Asia

Fund (Bermuda) Ltd., Fidelity World

Advisor World U.S. Limited Term Bond

Fund (Bermuda) Ltd., Fidelity Advisor

World U.S. Government Investment

Fund (Bermuda) Ltd., Fidelity Advisor

World U.S. Treasury Money Fund